Argentina trade deals with US do not box out China, minister says

A deal on critical minerals between Argentina and the United States signed this week does not rule out Chinese investment in the country’s mining sector, Argentine Foreign Minister Pablo Quirno said on Friday.

“This, as of today, does not imply that China cannot participate or will not participate in investments in Argentina. In fact, it has investments in Argentina, in minerals,” Quirno said in a press conference.

The agreement was announced after a meeting of more than 50 countries in Washington this week where US Vice President JD Vance proposed a trading bloc for critical minerals, with the US establishing a system creating price floors for the commodities.

The two countries also finalized a reciprocal trade and investment agreement on Thursday, with Argentina committing to prioritize the US as a trading partner for its copper, lithium and other critical minerals over “market manipulating economies or enterprises” – a reference to China.

“What this Argentina–United States agreement does is that it gives greater predictability so that American companies, which are already the leading investor in Argentina, can increase their investments,” Quirno said.

Argentina was also seeking more “flexibility” within the Mercosur trade bloc, which also includes Brazil, Paraguay and Uruguay, with Bolivia poised to become a full member, Quirno said.

(By Leila Miller and Brendan O’Boyle; Editing by Cassandra Garrison)